Eldorado Gold Corporation

Thank you for standing by. This is the conference operator. Welcome to the Eldorado Gold third quarter 2024 results conference call. As a reminder, all participants are in listen-only mode and the conference is being recorded. After the presentation, there'll be an opportunity to ask questions. To join the question queue, you may press star then one on your telephone keypad. Should you need assistance during the conference call, you may signal an operator by pressing star then zero. I would now like to turn the conference over to Lynette Gould, Vice President, Investor Relations, Communications and External Affairs. Please go ahead, Ms. Gould.

Thank you, Operator, and good morning, everyone. I'd like to warmly welcome you to our third quarter 2024 results conference call. Before we begin, I would like to remind you that we will be making forward-looking statements and referring to non-IFRS measures during the call. Please refer to the cautionary statements included in the presentation and the disclosure on non-IFRS measures and risk factors in our management's discussion and analysis. Joining me on the call today, we have George Burns, President and Chief Executive Officer, Paul Ferneyhough, Executive Vice President and Chief Financial Officer, Lo Smith, Executive Vice President, Development, Greece, and Simon Hilly, Executive Vice President, Operations and Technical Services. Our news release yesterday details our third quarter 2024 financial and operating results. This should be read in conjunction with our third quarter 2024 financial statements and management's discussion and analysis, both of which are available on our website. They've also both been filed on CDARplus and EDGAR. All dollar figures discussed today are US dollars unless otherwise stated. We will be speaking to the slides that accompany this webcast and you can download a copy of the slides from our website. After the prepared remarks, we will open the call for Q&A. At this time, we will invite analysts to queue for questions. I will now turn the call over to George.

Thanks, Lynette, and good morning, everyone. Here is the outline for today's call. I'll provide a brief overview of Q3 results and highlights. I will then pass the call over to Paul to go through our financial results and then on to Lo and Simon to review our operational performance. Turning to slide four, during the third quarter, we achieved safe coal production of 125,195 ounces, aligning with our progress towards full-year guidance. At Olympias, we successfully concluded the CBA negotiations and reached a mutually beneficial agreement with the union workforce in early August. This three-year agreement, combined with increased productivity in our underground operations and as contemplated in our guidance, supports the 650,000 ton per annum expansion, an increase from the 500,000 tons per annum positioning Olympias for long-term profitability. Total cash cost and all-in-sustaining costs were in line with our expectations at $953 per ounce sold, and $1,335 per ounce sold respectively. Cost increased primarily as a result of higher royalties driven by higher gold prices in addition to higher labor costs during the quarter. Paul will touch on our cost in more detail later in the call. We're in a strong position as we head into the fourth quarter with our year-to-date production having increased 7% compared to the same period in 2023 and increased 12% compared to the same period in 2022. We have maintained but tightened our guidance ranges on goal production and costs, while slightly lowering the bottom end of the Scurries capital investment and depreciation expense. We also increased the upper end on capital investment at our operating mines, reflecting our full year expectations within the operational and financial performance to date. We now anticipate Gold production to be between 505 and 530,000 ounces versus previous guidance of 505 to 555,000 ounces as a result of inventory buildup at Kisabat caused by slower leach-like cycles and work stoppages totaling 17 days in Q2 at Olympias. Total cash costs to be between $910 and $940 per ounce sold versus the previous guidance of 840 to 940. All in sustaining costs are expected to be between 1260 and 1290 per ounce sold versus previous guidance of 1190 to $1,290 per ounce sold. The tightened cost guidance is towards the high end of our previous guidance, primarily the result of lower production and higher royalties in Greece and Turkey due to increased gold prices. Appreciation is expected to be between $250 and $260 million, down from $280 to $290 million as a result of lower depreciation at Quesada and Olympias, combined with favorable adjustment to ARO depreciation at FM Chukuru in Q1 2024. Sustaining capital guidance is expected to be between $135 and $145 million versus previous guidance of $135 to $160 million, primarily due to deferral of projects at Olympias. Scurry's capital is expected to be between $350 and $380 million versus previous guidance of $375 to $425 million. The lowering of the guides is driven primarily by work that is not on the critical path and that has been rescheduled to later in the project phase, and the slower than expected mobilization of contractors to site during the first three quarters of 2024. Our growth capital at the operating mines is expected to be between $145 and $160 million versus previous guidance of $122 to $144 million. Capital has increased over the prior guidance, primarily driven by waste dripping and accelerated spending for the second phase of the north leach pad at Kisada. At Scurries, we remain on track for first production in Q3 2025. We have significantly de-risked the project since we put it back into construction in April 2023, with all major contracts signed, including the filter tailings building structure, which is on the critical path. We have approximately 1,000 people at site, including our operational readiness team, which is in the process of operationalizing both the surface and underground mine. Thus far, we are seeing productivity slightly beating our assumptions. We are steadily progressing towards year-end target of 1,300 workers on site. Our focus, once we have the additional personnel on site, will turn to integrating them or assumed productivity levels to maintain the schedule and budget. We are managing this closely and taking proactive measures such as rescheduling some non-critical work on process control facilities to mitigate potential challenges in a tight construction labor market. Turning to slide five, year-to-date, our lost time frequency rate increased to 0.91 per million worked hours compared to 0.71 in the same period in 2023. Positively, our total recordable incidents for the first nine months of 2024 have decreased to 3.11 from 4.70 per million hours worked, compared to the same period in 2023. Our commitment to providing and sustaining a safe, healthy workplace remains steadfast, and we acknowledge that this is an ongoing journey of continuous improvement. Our health and safety focus in 2024 continues to be based on preventing high potential incidents and further empowering our employees to promote a positive health and safety culture. I would also like to congratulate our team in Quebec. Our number of supervisors were recently recognized for leading their teams to achieve between 50,000 and 200,000 hours without a lost time incident. This stands as a testament to their dedication to maintaining a safe and healthy workplace. Additionally, congratulations to members of our KESEDA and FMÇUKURU mine rescue teams in Türkiye, who collaborated in the third mine rescue competition organized by the Turkey's Miners Association, tying for first place in the FEST Mine Rescue Team Award. I'll stop there and turn the call over to Paul for review of our financial results.